"Effective January 26th, 2008 we will impose a fee equal to 2% of the transaction amount (including credits or reversals) on all ATM and/or POS Debit Card transactions (U.S. or foreign currency) that you conduct outside the 50 United States or Puerto Rico. This fee will apply to transactions made at Citibank and non-Citibank ATMs."
I tried to find this listed elsewhere, but couldn't find it. Hope it's new and useful news for you guys.
Link to Citibank FAQ about "Can I use my ATM/Debit Card overseas" and also "Are there fees for using ATMs" few pages below.
It doesn't mention transaction fee (yet) and assume will be update later? So just FYI
Outside the U.S.
Outside of the U.S., you can use your Citibank Banking Card at more than 7,000 Citibank ATMs free of charge. However, if you get cash in the local currency at a non-Citi ATM, then there is a foreign exchange fee of 3% (1% for Citigold clients). For example, if you withdrew 100 Euros at a non-Citi ATM in Italy, and the value in USD was $125, then the 3% fee would be $3.75 ($1.25 for Citigold clients). This exchange fee also applies if you use your Citibank Banking Card to make purchases overseas.
That sucks, I just used our Citi Debit Card at Banamex (part of Citi) in Mexico a couple of weeks ago and didn't have to pay any fees. I guess I'll have to open up a BOA checking account the next time we leave the country.
The fee will be between 0-3% depending on the account you have with Citibank.
Reserved Clients still will get free withdrawals at Citibank ATM worldwide and 1% else where.
Citigold will be 1% at all ATMS.
Everything Counts Account will be 2% at all ATMS.
All other Citibank Accounts will be 3% at all ATMS.
Link to Citibank FAQ about "Can I use my ATM/Debit Card overseas" and also "Are there fees for using ATMs" few pages below.
It doesn't mention transaction fee (yet) and assume will be update later? So just FYI
Outside the U.S.
Outside of the U.S., you can use your Citibank Banking Card at more than 7,000 Citibank ATMs free of charge. However, if you get cash in the local currency at a non-Citi ATM, then there is a foreign exchange fee of 3% (1% for Citigold clients). For example, if you withdrew 100 Euros at a non-Citi ATM in Italy, and the value in USD was $125, then the 3% fee would be $3.75 ($1.25 for Citigold clients). This exchange fee also applies if you use your Citibank Banking Card to make purchases overseas.
Thanks for the notice. Looks like my Citibank ATM card will get left at home from now on.
fish777 said:Link to Citibank FAQ about "Can I use my ATM/Debit Card overseas" and also "Are there fees for using ATMs" few pages below.
It doesn't mention transaction fee (yet) and I assume will be update later. So just FYI
Outside the U.S.
Outside of the U.S., you can use your Citibank Banking Card at more than 7,000 Citibank ATMs free of charge. However, if you get cash in the local currency at a non-Citi ATM, then there is a foreign exchange fee of 3% (1% for Citigold clients). For example, if you withdrew 100 Euros at a non-Citi ATM in Italy, and the value in USD was $125, then the 3% fee would be $3.75 ($1.25 for Citigold clients). This exchange fee also applies if you use your Citibank Banking Card to make purchases overseas.
By the way, is the 3% foreign exchange fee introduced recently? Don't remember seeing it before. And is the new transaction fee on top of the foreign exchange fee (or the foreign exchange fee IS the new transaction fee?)?
Glad you posted this OP. I was about to open a Citibank account for the sole purpose of using the ATM card outside the US. You saved me the time that would have been wasted until I found that out.
For those of you looking for pulling out money in foreign countries, look at Schwab checking. Zero ATM fees worldwide. I think Fidelity's myCash account only charges 1% outside the US.
Citizen's Bank used to have a 0% fee for all ATM withdrawls in foreign currency. They too are switching to 2%.
RJG said:Citizen's Bank used to have a 0% fee for all ATM withdrawls in foreign currency. They too are switching to 2%.
I guess they weren't satisfied enough on making money on the spread...
(and someone has to pay for all that subprime mess...)
I was told when I contacted Citizen's Bank that they charge 2% per transaction, PLUS an extra $2 per transaction. Does anyone know what Ocean National charges? I am in NH.
I guess the Citi does sleep outside the US after all.
weescot said:I was told when I contacted Citizen's Bank that they charge 2% per transaction, PLUS an extra $2 per transaction. Does anyone know what Ocean National charges? I am in NH.
Maybe it depends on your account. I have Circle Checking and do not pay any fee. I've used it in Canada, Spain, England, Greece. However this is changing in a month.
Has anyone been charged this fee yet?
Are they actually imposing it?
No wonder they are loosing boatloads of money.
BankofGreed said:No wonder they are loosing boatloads of money.As if
fish777 said:Link to Citibank FAQ about "Can I use my ATM/Debit Card overseas" and also "Are there fees for using ATMs" few pages below.
It doesn't mention transaction fee (yet) and assume will be update later? So just FYI
Outside the U.S.
Outside of the U.S., you can use your Citibank Banking Card at more than 7,000 Citibank ATMs free of charge. However, if you get cash in the local currency at a non-Citi ATM, then there is a foreign exchange fee of 3% (1% for Citigold clients). For example, if you withdrew 100 Euros at a non-Citi ATM in Italy, and the value in USD was $125, then the 3% fee would be $3.75 ($1.25 for Citigold clients). This exchange fee also applies if you use your Citibank Banking Card to make purchases overseas.
they still haven't changed this on the website. kind of annoying.
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